Bureau of Local Government Finance Opinion

November 15, 2000 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION 2nd Indorsement Respectfully returned to the ICO-Regional Director for Local Government Finance, Department of Finance, Region X, 6th Division corner Tejero Street, Patag, Cagayan de Oro City. This refers to the request of the OIC-Provincial Assessor of Misamis Oriental, for opinion as to the date of effectivity of the general revision of real property assessments considering that Provincial Ordinance No. 455-2000 took effect only on July 17, 2000, the date of its approval, hence, the observance of the "once every three years" principle under Sections 219 and 220 of R.A. No. 7160, was not observed. In this connection, attention is invited to the 2nd Indorsement dated May 10, 1996, copy enclosed, of this Bureau, treating on a similar subject matter, which ruled in part, as follows: "Clearly, the . . . provisions of law mandated that general revision of real property assessments should be undertaken within two (2) years upon the effectivity of said Code and every three (3) years thereafter. Therefore, since that Office conducted the mandated general revision of real property assessments until December 31, 1995 to take effect on January 1, 1996, it is safe to conclude that the next general revision should be completed by that Office on or before the end of December, 1998 to take effect on January 1, 1999, in order to observe the 'once every three year' principle in real property assessment." Similarly, therefore, since the Office of the Provincial Assessor of Misamis Oriental started its general revision of real property assessments only after the approval of the said ordinance in August, this year, it is also safe to conclude that if completed on or before the end of the same year, the effectivity of the revised assessments would be January 1, 2001. IHEDAT We trust that this will clarify matters. Very truly yours, (SGD.) BENJAMIN A. GERONIMO Executive Director